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5
Group Information
Investments
30
Worldline
2016 Registration Document
With the 2012 acquisition of the Dutch company Quality
Equipment BV, which had been a commercial partner of the
Group’s for fifteen years, Worldline acquired a key player in the
Dutch electronic payment market, in particular in the sales,
restaurant and parking sectors.
After announcing in February
2013 its intention to spin off all of
its electronic payment and transactional services activities into a
single subsidiary named Worldline, Atos announced in July
2013
that it had completed the project.
Worldline completed its initial public offering in June
2014 and
the first listing of Worldline’s shares on Euronext Paris occurred
on June
27, 2014. The settlement and delivery of shares offered
in Worldline’s initial public offering occurred on July
1, 2014.
Following the initial public offering, all entities of the Group
removed the reference to Atos in their corporate names.
with an extensive pan-European reach, with leading positions
and a strong commercial presence in key countries (France,
Belgium, The Netherlands, Germany, Italy, Nordics).
The Worldline Group has finalized on September
30, 2016 an
agreement with the Equens Group in order to join forces to
reinforce the Worldline’s leadership in payment services in
Europe. This transaction provides the enlarged Worldline Group
This transaction was structured in two steps:
A share transaction for the Financial Processing activities,
●
through a merger of the respective activities of the two
Groups in Europe to create “equensWorldline”, which is
63.6% controlled by Worldline and 36.4% by the former
shareholders of Equens;
The acquisition of Paysquare, the Commercial Acquiring
●
subsidiary of Equens, for an enterprise value of € 72 million
in cash.
Under the shareholders’ agreement, from 2017, Worldline
benefits notably from pre-emptive rights in case a minority
shareholder of equensWorldline decides to sell its stake and also
from a call option exercisable in cash or in shares earliest in 2019
on all the shares owned by minority shareholders.
Finally, as part of its expansion strategy in Merchant Services &
Commercial Acquiring, Worldline has finalized on September
30,
2017 an agreement with Komercni banka (KB), subsidiary of the
Société Générale group and one of the leading banks in the
Czech Republic, through which the Group has taken, as a first
step, a 80% interest in Cataps s.r.o., Commercial Acquiring
subsidiary of Komercni banka for credit or debit cards, operating
under the brand KB SmartPay. This investment of 80% in Cataps
s.r.o. was made based on an enterprise value of € 34 million for
100%.
Investments
5.2
Historical Investments
5.2.1
expenditures (purchases of tangible and intangible assets
recorded on, the balance sheet) were €
151.9
million. These
capital expenditures comprised principally:
For the period from 2015 to 2016, the Group’s total capital
Capitalized production costs
. Capitalized production costs,
●
which relate to the applications developed specifically for
clients or technology solutions provided to a group of
clients, totaled €
88.5
million over the period 2015-2016
(€
45.4
million in 2016 and €
43.1
million in 2015). Of this
amount:
development in four main areas: (i) rendering the Group’s
processing platform compliant with SEPA Regulations,(ii)
adapting the Sips Internet platform, (iii) developing
Connected Living offers and (iv) developing new line of
payment terminals,
€
72.7
million were invested in internal software
●
€
13.1 million were spent developing software for specific
●
customers,
€
2.7
million corresponded to convergence towards the
●
Group’s SAP ERP target.